Fiscal Cliff in Plain English

You may have seen this before, but it needs seeing again and again and again…..  Here’s the USA’s fiscal problem made easy:

  • U.S. Tax revenue:                                       $2,170,000,000,000
  • Fed budget:                                                  $3,820,000,000,000
  • New debt:                                                    $1,650,000,000,000
  • National debt:                                             $16,440,000,000,000
  • Recent budget cuts:                                  $38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:


  • Annual family income:                               $21,700
  • Money the family spent:                           $38,200
  • New debt on the credit card:                  $16,500
  • Outstanding balance on credit card:     $164,400
  • Total budget cuts so far:                           $385

Got It?  OK now here’s another way to look at the ‘Debt Ceiling':

Let’s say you come home from work and find there’s been a sewer backup in your neighborhood….AND your home has sewage all the way up to your ceilings.

What do you think you should do???…..  Raise the ceilings?  OR, REMOVE IT?

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Filed Under: Consumer Goods | Financials | U.S. Politics | World Politics | Other Investment Related NewsFeaturedStock Market TodayStock Trades


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